FUNDAMENTALS OF BUSINESS MATHEMATICS  DECEMBER 2023 PAST PAPER

TUESDAY: 5 December 2023. Afternoon Paper. Time Allowed: 2 hours.

This paper is made up of fifty (50) Multiple Choice Questions. Answer ALL questions by indicating the letter (A, B, C or D) that represents the correct answer. Each question is allocated two (2) marks.

1. What per cent of 80 is 12?

A. 6.67%
B. 66.7%
C. 15%
D. 9.6% (2 marks)

2. Convert the decimal number 3.98 to a percentage.

A. 3.98%
B. 0.0398%
C. 39.8%
D. 398% (2 marks)

3. Convert 75.20% into a decimal number.

A. 0.752
B. 7.52
C. 75.2
D. 0.0752 (2 marks)

8. Round off 7,510 to the nearest thousand.

A. 7,500
B. 7,600
C. 7,000
D. 8,000 (2 marks)

9. A ratio equivalent to 3:8 is.

A. 3:11
B. 6:24
C. 9:24
D. 18:40 (2 marks)

10. Two numbers are in the ratio 7:9. If the sum of the numbers is 112 then the larger number is.

A. 49
B. 42
C. 63
D. 72 (2 marks)

11. The ratio of 1.5m to 10cm is.

A. 1:5
B. 15:10
C. 10:15
D. 15:1 (2 marks)

12. The length and width of a rectangle are in the ratio 3:2. If the width of the rectangle is 28cm, then the length of the rectangle is?

A. 18
B. 42
C. 70
D. 56 (2 marks)

13. Three business partners, Mary, John and Peter share profits in the ratio of 3:3:4 respectively. If Peter received Sh.90,000. How much was the profit earned?

A. Sh.36,000
B. Sh.54,000
C. Sh.225,000
D. Sh.200,000 (2 marks)

14. Jane saves 2/5 of her salary in a SACCO every month. How much will she have saved in 9 months if she earns a monthly salary of Sh.40,000.

A. Sh.16,000
B. Sh.24,000
C. Sh.144,000
D. Sh.214,000 (2 marks)

23. Find a

A. -2
B. 2
C. 5
D. 3 (2 marks)

24. Find b

A. -5
B. 2
C. 5
D. -6 (2 marks)

25. Find the determinant of P

A. 1
B. 0
C. -1
D. 5 (2 marks)

28. The marked price of a book was Sh.500. The book was sold for Sh.450. What is the percentage discount offered on the product?

A. 5%
B. 10%
C. 11%
D. 50% (2 marks)

29. Dennis Juma bought a bike for Sh.7,500. He wants to sell it by making a profit of 25% on the selling price. What is the selling price of the bike?

A. Sh.9,375
B. Sh.5,625
C. Sh.10,000
D. Sh.9,500 (2 marks)

30. Rita Mueni sold apples for Sh.400. She made a profit of 25% on cost. Find the cost price of the apples.

A. Sh.320
B. Sh.200
C. Sh.300
D. Sh.250 (2 marks)

31. The student population of a college is increasing at the rate of 20% per annum. Calculate the student population after three years if the current population is 1,000.

A. 1,200
B. 1,440
C. 1,728
D. 3,600 (2 marks)

32. The production of a firm rose to 2,500 bags from 1,600 bags in two years. Find the rate of growth per annum.

A. 25%
B. 20%
C. 200%
D. 250% (2 marks)

33. Under the reducing balance method of providing for depreciation, the amount of depreciation _______________.

A. Increases every year
B. Remains constant
C. Decreases every year
D. Increases or decreases every year (2 marks)

34. Calculate the amount of interest earned if a sum of Sh.800,000 is invested for three years at a simple interest rate of 8% per annum.

A. Sh.192,000
B. Sh.608,000
C. Sh.80,000
D. Sh.992,000 (2 marks)

35. The cost of a motor vehicle in Britain is 30,500 British Pounds (£). Determine the cost of the motor vehicle in Kenya Shillings (KES) assuming the prevailing exchange rate is 1 British pound (£) = 132 KES.

A. Sh.4,026,000
B. Sh.231.06
C. Sh.231,060.60
D. Sh.4,000,000 (2 marks)

36. Lydia Njuguna bought a delivery van for Sh.2,800,000. The car depreciates at the rate of 14% per annum on a straight line basis. Calculate the value of the car after 2 years.

A. Sh.2,016,000
B. Sh.784,000
C. Sh.2,000,000
D. Sh.2,006,000 (2 marks)

37. The price of 1kg of cooking fat has increased by 20% over the last one month to retail at Sh.240 per kg. Calculate the retail price per kg before the price increases.

A. Sh.160
B. Sh.200
C. Sh.300
D. Sh.280 (2 marks)

38. ABC Ltd pays its employees on hourly basis. The normal rate per hour is Sh.200 while overtime is paid at the rate of 25% above the normal hourly rate. The normal working hours per week are 32 hours. Calculate the weekly wage for an employee who worked for 40 hours.

A. Sh.6,400
B. Sh.8,000
C. Sh.8,400
D. Sh.10,000 (2 marks)

39. Michael Oketch makes an initial investment of Sh.X at 10% compound interest in ABC bank. Calculate the value of X if at the end of 3 years the total amount in the investment account is Sh.85,184.

A. Sh.59,628.80
B. Sh.60,000
C. Sh.64,000
D. Sh.76,665.60 (2 marks)

40. What will be the amount to be paid at the end of three years on Sh.3,500 at an interest rate of 2% per annum compounded half-yearly?

A. Sh.3,606.054
B. Sh.3,710
C. Sh.3,715.3205
D. Sh.3,714.228 (2 marks)

41. The mean cost of 12 items is Sh.225. What is the cost of the 13th item that causes the mean to become Sh.250?

A. Sh.250
B. Sh.237.5
C. Sh.550
D. Sh.475 (2 marks)

42. Find the mean score.

A. 30
B. 30.275
C. 31.04
D. 32 (2 marks)

43. Find the median score.

A. 27
B. 30
C. 34
D. 32 (2 marks)

44. Find the standard deviation of the scores.

A. 4.90
B. 5.23
C. 24
D. 27.32 (2 marks)

Use the information below to answer Question 45 to Question 47.

A box contains 4 blue balls and 6 red balls. A ball is drawn from the box and then replaced. A second ball is then drawn.

Find the probabilities that:

48. Two events are said to be dependent if _______________________.

A. They can happen together
B. They cannot happen together
C. The occurrence or non-occurrence of one event does not affect the occurrence or non-occurrence of the other event
D. The occurrence or non-occurrence of one event affects the occurrence or non-occurrence of the other
event (2 marks)

49. The probability of one event happening is referred to as:

A. Simple probability
B. Marginal probability
C. Joint probability
D. Equally likely event (2 marks)

50. Determine the modal value in the following distribution:
2, 4, 7, 9, 3, 0, 5, 3, 1, 7, 9, 3

A. 3
B. 7
C. 9
D. 2 (2 marks)

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